Welcome to America

What does a company do when an over a third of their sales come from the good old USA, or when 61.3% of sales of their most profitable product comes from this great country of ours. Well what Sanofi (NYSE:SNY) does is promote someone with absolutely no North American experience, zero, zilch, nada to head up their North American operations. Yes Sanofi has appointed Jez Moulding to the position of President, North America Pharmaceuticals.

Diabetic Investor does not know Mr. Moulding who according to his LinkedIn page has a very impressive resume. Mr. Moulding has a long and very distinguished career , joining Sanofi way back in March 1999 and moving now to one of the most important positions within the company.  Honestly the resume is quite impressive expect for one glaring omission, he has absolutely no experience with North American markets, the very markets he is now responsible for.

Typically when an American company makes such a change, say moving a seasoned executive into a more responsible position, this executive has been groomed to take over. They are familiar with the inner workings of the markets they will soon be heading. This is not unlike what’s happened in the NFL, NBA and MLB where the new commissioners were basically understudies of the previous commissioners. It would be a major understatement to say that the experience these new commissioners gathered from their mentors was instrumental in their assent to the top and that the lessons learned while they were understudies will serve them well going forward.

However Sanofi is not an American company, far from it. It seems that besides from having some great wines, outstanding champagnes and one of the most romantic cities in the world, the French have the unabashed belief that experience in a major, critically important market really isn’t necessary. Now if Diabetic Investor was truly cynical we’d say this is like the University of Alabama football program replacing Nick Saban with someone who used to coach pee wee football.

Still we shouldn’t be too hard on Mr. Moulding as he has had a very impressive career and no doubt he’s very talented. Let’s just hope for Sanofi that he’s also a quick study as the North American market is undergoing a major change. That he understands that unlike nearly everywhere else in the world, America besides being the land of the free and the brave is also the land without a single payor system. That, thank goodness, we still have free enterprise. That Americans love a good fight which is exactly what going on in healthcare this very moment.

Welcome to America Mr.Moulding and by the way on your way in you might just notice the best thing ever given to America by the French, Lady Liberty.  Diabetic Investor and this great lady welcome you, we sure hope you’re up to the task for if you’re not you just might learn the Chicago Way.